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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

  • #114,561
  • Jan 5, 2021 7:22am Jan 5, 2021 7:22am
Quoting Tekkies
{quote} Fine, explain my TE 86% win rate. You know by now that I only trade with TDI setup's. Those losses on TE is my own stupid mistakes, not BigE's advice how to trade with TDI/Stoch.
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  • #114,562
  • Jan 5, 2021 7:23am Jan 5, 2021 7:23am
Quoting DrDave
Poor old robots4me--so out of it! One day he says he doesn't trade, and today what does he say? {quote} LOL Looks like he's gone from half-baked to completely scorched.
How about this:
@Tekkies @robots4me -- now that sounds like waffling to me.
  • #114,563
  • Jan 5, 2021 7:26am Jan 5, 2021 7:26am
My coccyx hurts due to the extreme action last night with Stacey, I'll go ahead n rest.
Since paper trading is my great hobby now,HK50 awaits me on the Asian Session.
Life is great! Good luck guys
  • #114,564
  • Jan 5, 2021 7:32am Jan 5, 2021 7:32am
Quoting robots4me
{quote} Hey @jmn5611 -- your way works -- and it keeps the brain juices flowing. I'm lazy -- once I code it then I forget the details. But one advantage to putting it in code is then I can share it and it saves time for a lot of people. Interesting what you say about MT4 -- I used to fear the same, but no more. My guess is that MT5 has been a colossal failure for MetaQuotes. Most brokers I've encountered along the way won't touch it with a 10-foot pole -- and that includes OANDA, the largest US broker. There is so much legacy software that relies...
Hey Robots4me,
Sorry, I know its not the correct forum but how can i contact you, i have a question about one of your superb indis.
Best
  • #114,565
  • Jan 5, 2021 7:34am Jan 5, 2021 7:34am
Quoting jmn5611
{quote} Heh, I looked at your screenshot and I immediately said Nihilist! That is good to know as I was petrified that I would find a system that used a specific indicator specific to a flaky platform. All of us in the states have to use Oanda pretty much. I use ThinkorSwim to chart and Oanda to execute. If MT4 is pretty much safe, I may go back. As you may know TDAmeritrade and Schwab merged, so they are officially too big to fail. Thinkscript is not terrible, but I did not have the TDI, so your MACD contribution allows...
@jmn5611 -- I can't help chuckling inside -- you have excellent eyes and attention to detail. Yes -- that's Nihilist. I trade so many strategies -- both past and present -- I've lost count. Though Nihilist's software has been around for awhile, it has only been recently I decided to give it a try. I like it a lot.

I also have an Oanda account, among others, but it pretty much lies dormant. The NFA rules that affect hedging, FIFO, multiple positions are just too much -- so I've found a few non-US brokers, located on islands I've NEVER heard of, for most trading. And, there's something better, I believe -- prop trading. In particular, you might check out @the5ers (https://www.forexfactory.com/thread/...growth-program). There are a few details you have to get your head around, but for US clients it makes sense. The account is opened in their name. You can pay with credit card. Doesn't require documentation like passport, utility bills, proof of virginity, etc. And you don't pay exorbitant fintech fees when transferring money into and out of accounts (as you would when trading with non-US brokers).

I'm glad you like the BBMACD -- it's not mine -- I just fiddled with it a bit. When it comes to software we stand on the shoulders of giants. I don't think most people realize that or appreciate it. You've been trading much longer than me and can attest to the fact that today even imbeciles can trade and lose money (using other people's software), whereas back in 1999 only geniuses could trade and lose money...
  • #114,566
  • Jan 5, 2021 7:35am Jan 5, 2021 7:35am
Another mistake and miss concept that most of the so-called expert and Book writer has is if you use many time frame you will get a high win rate. That is absolutely BS.
If your system doesn't have an edge MTF will not help you it will confused you and make you over-trade and open too many positions in both directions.
If you want to successfully stop Multiple time frame analysis. and revenge trading.

This is the best advice I could give to new traders. If you like to use MTF use 2 TF at max. No more. otherwise, you will be confused and over trade with both directions, you know what will happen next.

Traders challenges-
1. don't have a good trading system.
2. if they develop a good trading system they don't know how to use as their advantage.
3. Traders make them confused using MTF,
Once they learn their trading system and develop some discipline next level problem comes.
4. they start making a profit one month two months and more. after that they make some mistake in trade, they try to recover the losing money using a little big lot. then lose again. now they try to recover the loss with a more large lot size they recover lose and they develop a new bad habit, that bad habit, kill their trading career.
traders lost their confidence in the trading system, they try to learn more and more. Learning new things will not help them because of Problems in not in trading system problems in our mindset and belief. Finding and knowing a good system is also a problem.
If you know when to trade and when not to trade what market to trade and what TF to trade you could you could improve your win rate. Win rates don't improve by MTF.
Oh, I miss another point some people think they can trade the market with candlesticks pattern this is absolutely a disaster.
MA provides the market's current direction and strength.
  • #114,567
  • Jan 5, 2021 7:54am Jan 5, 2021 7:54am
Quoting rosalieone
{quote} Hey Robots4me, Sorry, I know its not the correct forum but how can i contact you, i have a question about one of your superb indis. Best
Hello @rosalieone -- thanks for the good word. I've added you as a 'buddy', so you should now be able to PM me. However, I'll warn you, not only has it been over a year since I last touched that software, plus I have my time and hands full working on new projects.
  • #114,568
  • Jan 5, 2021 8:11am Jan 5, 2021 8:11am
Quoting hasib
Another mistake and miss concept that most of the so-called expert and Book writer has is if you use many time frame you will get a high win rate. That is absolutely BS. If your system doesn't have an edge MTF will not help you it will confused you and make you over-trade and open too many positions in both directions. If you want to successfully stop Multiple time frame analysis. and revenge trading. This is the best advice I could give to new traders. If you like to use MTF use 2 TF at max. No more. otherwise, you will be confused and over trade...
If you like to use MTF use 2 TF at max. No more. otherwise, you will be confused
OOPS! I've been making a HUGE mistake with all of those TFs that I am using with IMT!! I can't believe that I have gone so long winning. Maybe if I just concentrate on a single TF my win rate will go even higher?? WOW! (Oh, that's right, I have so much PURE LUCK to fall back on that I have to work hard to lose.)

Really, MTF SHOULD NOT BE a problem for anyone if they simply recognize that the price movements are fractal-like in nature: Remove the time and price scales and any indication of the TF being viewed, and it is IMPOSSIBLE to determine the TF being viewed! (The experiment that proves this has already been done.)

In fact, MTF IS my IMT system! Without MTF, it would not be possible to know the control TF and the focus TF. And because they are both dynamic means that viewing 1 or 2 TFs means that nearly all of the time, it is not possible to see the information for direction and whether a swing is a trend continuation or a retracement.

How can this view of what is likely to happen be made in advance for where to be looking to trade and then get these results be done by analyzing a single TF???? Oh, that's right, I have that PURE LUCK factor going for me!
To free Gazans of Hamas, use whatever it takes.
  • #114,569
  • Jan 5, 2021 8:42am Jan 5, 2021 8:42am
Quoting DrDave
{quote} If you like to use MTF use 2 TF at max. No more. otherwise, you will be confused OOPS! I've been making a HUGE mistake with all of those TFs that I am using with IMT!! I can't believe that I have gone so long winning. Maybe if I just concentrate on a single TF my win rate will go even higher?? WOW! (Oh, that's right, I have so much PURE LUCK to fall back on that I have to work hard to lose.) Really, MTF SHOULD NOT BE a problem for anyone if they simply recognize that the price movements are fractal-like in nature: Remove the time and price...
@DrDick -- seriously, I'm surprised. You should know by now that ALL time frames -- did I say ALL? -- get the exact, same tick data. Actually, I lied -- there is one exception. At the beginning of each time frame MT4 guarantees a tick regardless if the price has changed. That guaranteed, "virtual" tick is the last known tick.

So, if all time frames get the exact same tick data, where does the advantage lie to using multiple time frames? Okay -- I'll answer. It has to do with how many ticks go into composing a bar. The longer the time frame, the more ticks go into composing the OHLC of that bar. The more ticks used to compose a bar, the more "reliable" that bar is in representing the price at that moment in time. The advantage of using lower time frames is that it gives you a sense that you are looking at the data in finer detail -- but you aren't really -- it's just fewer ticks per bar. If you want even finer granularity, then forget about bars and candles and go with raw tick data.

Most indicators -- and I would assume that includes yours, as well -- are based on a moving average at some level. That is the 'period' setting you'll see in most input dialogs. An alternative to using multiple time frames that many traders use is to use the same indicator with different period settings. That period is the number of bars that are used when computing the moving average. It is a sliding window -- the same algorithm used by many data analysis applications. It's the same thing as what MT4 does behind the scenes when it composes bars from ticks.

All there is is tick data. All time frames get the same tick data. An H1 indicator with a MA period of 56 will provide similar results as an H4 indicator with a MA period of 14 -- since behind the scenes the same number of ticks are being used when computing the MA. So, rather than switching back and forth between multiple time frames -- oh my goodness -- you can place the same information on one chart. It may not be "exactly" the same as switching between multiple charts, but the overall results will be similar and you would be hard-pressed to identify the differences.

And as for your funky H8, H16, H32, H-whatever time frames that require offline charts -- you're not getting that first tick that the standard MT4 time frames are guaranteed to receive. So, you've got to hope that ticks are coming in fast and furious, otherwise your bar's open values could be stale.

@DrDick -- thank you for giving me the opportunity to explain that to you. Hope that helps you to better understand how MT4 works...
  • #114,570
  • Jan 5, 2021 8:49am Jan 5, 2021 8:49am
Quoting emmanuel7788
{quote} What is TMS_V19 showing today? - a H4 Master Candle - last week's low - Trend 2/8 sideways - Daily TdiC1 is bearish - so better to have a Plan A and a Plan B when trading H1 - a Plan C for the H4 MC breakout {image} {image}
Thank you for your reply.
Emmanuel, If you donīt mind, I have some question, statements.
According the TMS_V19 you mentioned
H4 Master Candle – within the range of MC, we should disregard any crosssignal on H4 , but I suppose, that we can trade on lower timeframe like H1? But high and low of MC serves as support/resistance.
Last week low – it has created a strong support. We should consider as a strong support (resistence) also previous day high and low.
Trend 2/8 sideways – anything could happen. We are in a consolidation phase, no trend. If you are trading H1 , do you still use TMS19 Trend setting 2/8 W and alert mode H4? I was wondering if it is a setting only for H4 trading. Is not it better to set 2/8 D1 and Alert mode to H, when you trade a H1?
Daily TdiC1 – If I remember correctly, you mentioned that it is not so “important“ for you?
I suppose, that the grey dashed lines on your chart are swing H/L . Any chance to share the indicator, please?
I feel a kind of shame, that I am trying to copy you and your style, but this system makes me a sense.
Btw., can you share any good setup for today? I am unable to find any.
Thank you very much for your time and patience.
  • #114,571
  • Jan 5, 2021 9:40am Jan 5, 2021 9:40am
Quoting robots4me
{quote} @DrDick -- seriously, I'm surprised. You should know by now that ALL time frames -- did I say ALL? -- get the exact, same tick data. Actually, I lied -- there is one exception. At the beginning of each time frame MT4 guarantees a tick regardless if the price has changed. That guaranteed, "virtual" tick is the last known tick. So, if all time frames get the exact same tick data, where does the advantage lie to using multiple time frames? Okay -- I'll answer. It has to do with how many ticks go into composing a bar. The longer the time frame,...
As you know, I rarely reply to your ludicrous posts. But this one has so many things rolled into one post that I'll make an exception.

Although you closed with thank you for giving me the opportunity to explain that to you. clearly, from the details that you supplied that are part of Trading 101 and 201, it is obvious that you are not really directing your reply to me, unless, of course, you think that I have failed to either do basic "homework", or am lacking the ability to absorb and understand the basic information presented in Trading 101 and 201..

1. I'm surprised. You should know by now that ALL time frames -- did I say ALL? -- get the exact, same tick data.
I can only say DUH! to that one!

2. if all time frames get the exact same tick data, where does the advantage lie to using multiple time frames?
For you, I am sure that there is no advantage. But for me, with using time-based or tick-based price charts, that "smoothing" of the tick data, with more smoothing the larger the TF, is very valuable. There is a relationship between the smoothed results of a lower TF to the smoothed results of a higher TF that I am certain is beyond your limited ability of comprehension.

3. The advantage of using lower time frames is that it gives you a sense that you are looking at the data in finer detail -- but you aren't really -
That is how YOU see the advantage; don't think that you can speak for how I see and CAPITALIZE on the advantage.

4. An alternative to using multiple time frames that many traders use is to use the same indicator with different period settings.
Yet another DUH! moment!

5. rather than switching back and forth between multiple time frames -- oh my goodness -- you can place the same information on one chart. It may not be "exactly" the same as switching between multiple charts,
And sadly, yet another DUH! moment!

6. And as for your funky H8, H16, H32, H-whatever time frames that require offline charts
You're wrong AGAIN! I don't use offline charts. If you actually paid attention to what I have posted, then you would know what I use. But no surprise that you missed it: Getting details correct is far from your forte.

So now give the readers some fresh laughs with your response.
To free Gazans of Hamas, use whatever it takes.
  • #114,572
  • Jan 5, 2021 9:48am Jan 5, 2021 9:48am
Quoting pafka
{quote} Thank you for your reply. Emmanuel, If you donīt mind, I have some question, statements. According the TMS_V19 you mentioned H4 Master Candle – within the range of MC, we should disregard any crosssignal on H4 , but I suppose, that we can trade on lower timeframe like H1? But high and low of MC serves as support/resistance. Last week low – it has created a strong support. We should consider as a strong support (resistence) also previous day high and low. Trend 2/8 sideways – anything could happen. We are in a consolidation phase, no trend....
Really, pafka, you would be ahead of the game to focus on something else than the ridiculous "Mother Candle". That is just another gimmick that the ToxicFakeTrader latched on to in hopes of improving his success rate.

And yes, there really is a "pregnant lady" formation--the harami. But don't confuse that with the "Mother Candle" nonsense that you're being fed here.

I feel a kind of shame, that I am trying to copy you and your style, but this system makes me a sense.
Good luck with that! Maybe you'll be happy to achieve 65% success after 10 years of trying to figure it out as well?
To free Gazans of Hamas, use whatever it takes.
  • #114,573
  • Jan 5, 2021 10:16am Jan 5, 2021 10:16am
Quoting DrDave
{quote} As you know, I rarely reply to your ludicrous posts. But this one has so many things rolled into one post that I'll make an exception. Although you closed with thank you for giving me the opportunity to explain that to you. clearly, from the details that you supplied that are part of Trading 101 and 201, it is obvious that you are not really directing your reply to me, unless, of course, you think that I have failed to either do basic "homework", or am lacking the ability to absorb and understand the basic information presented in Trading...
"If you actually paid attention to what I have posted, then you would know what I use."

@DrDick -- does anyone?
  • #114,574
  • Jan 5, 2021 10:53am Jan 5, 2021 10:53am
Quoting jmn5611
{quote}Those trends will make your year. Thoughts?
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  • #114,575
  • Jan 5, 2021 12:46pm Jan 5, 2021 12:46pm
Quoting pafka
{quote} Thank you for your reply. Emmanuel, If you donīt mind, I have some question, statements. According the TMS_V19 you mentioned H4 Master Candle – within the range of MC, we should disregard any crosssignal on H4 , but I suppose, that we can trade on lower timeframe like H1? But high and low of MC serves as support/resistance. Last week low – it has created a strong support. We should consider as a strong support (resistence) also previous day high and low. Trend 2/8 sideways – anything could happen. We are in a consolidation phase, no trend....
Hi pafka

Sorry, I don't have time now to reply and explain everything in detail. The pandemic is going crazy again here and with inter-state travel restrictions, this is affecting family members travelling and visits, even relocating home from one state to another get disrupted and everyday too much time spent just to get basic everyday things moving.

I will reply you over the next few days with posts and with examples to help you and others reading.
Many TMS traders been through this phase years ago and I recall many skype sessions where we discuss the trading approach, trading tasks, etc. and everything related to Big E' Post#647.

As for this week, we are in the first week after the holidays, so don't rush into trading yet. Like in all previous years, I usually start slow and build up the momentum gradually from mid January.

For day trading, I stick to these pairs - AU, EU, GU, UJ, AJ, EJ and EG. You will find enough trades daily to make my target TP1,TP2 and TP3 using THV CaveManager.
Skip the GBP cross pairs GBPAUD, GBPCAD and GBPNZD. Also skip GBPJPY for now.

Now is the time to prepare for the 4H and the Daily/Weekly Swing trading plans for this year and the next 2 years 2022/2023 - 3 years trading cycle.

Talk again soon.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #114,576
  • Jan 5, 2021 12:53pm Jan 5, 2021 12:53pm
Quoting hasib
Forget about Candlesticks pattern, forget about supply and demand, forget about Support and resistance, forget about reversal trade, forget about ICT, forget about smart money concept, forget about order block, forget about Wyckoff method, forget EW, Forget about HM Gartley, forget about pivots. You can't be profitable with those things years and years will go, you will still remain confused. Do practice and Do what makes you profitable.
I said many times:

Follow the trading journey of the Op Big E in Forex Factory... Learn EVERYTHING... but you don't need EVERYTING to trade and make money.

Therefore , you are correct to forget many things, un-learn many things, get rid of bad habits, etc.

Follow simple rules for entries and exits, taking clean trades will be a breeze. You need to have your blueprint for trading success. Follow your own roadmap.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #114,577
  • Jan 5, 2021 12:56pm Jan 5, 2021 12:56pm
Quoting hasib
Another mistake and miss concept that most of the so-called expert and Book writer has is if you use many time frame you will get a high win rate. That is absolutely BS. If your system doesn't have an edge MTF will not help you it will confused you and make you over-trade and open too many positions in both directions. If you want to successfully stop Multiple time frame analysis. and revenge trading. This is the best advice I could give to new traders. If you like to use MTF use 2 TF at max. No more. otherwise, you will be confused and over trade...
How many timeframes do you really need?

I have mine kept simple.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #114,578
  • Jan 5, 2021 1:45pm Jan 5, 2021 1:45pm
Quoting hasib
if you use many time frame you will get a high win rate. That is absolutely BS. If your system doesn't have an edge MTF will not help you it will confused you and make you over-trade and open too many positions in both directions. If you want to successfully stop Multiple time frame analysis.
MTF analysis to pick a direction can work.
Or simply using a 30m chart to predict the next breakout, sell the new exhaustion highs or buying the lows on 1m scalping also works.
It's up to the trader and his mindset, I'll tell you a really interesting one. I some sort of predict the next movement / breakout simply by looking at the 30m chart,but I don't take the trade in that direction, when it finally happens I kinda trade against myself.. I'll sell the new highs or buy the new lows, with exhaustion confirmations of course. It's some sort of a strange action but yeah. Tbh I'm really surprised my predictions literally with no technical analysis and simply taking a glance at the charts works out.
  • #114,579
  • Jan 5, 2021 3:42pm Jan 5, 2021 3:42pm
Quoting PixelSniper
{quote} MTF analysis to pick a direction can work. Or simply using a 30m chart to predict the next breakout, sell the new exhaustion highs or buying the lows on 1m scalping also works. It's up to the trader and his mindset, I'll tell you a really interesting one. I some sort of predict the next movement / breakout simply by looking at the 30m chart,but I don't take the trade in that direction, when it finally happens I kinda trade against myself.. I'll sell the new highs or buy the new lows, with exhaustion confirmations of course. It's some sort...
"...with exhaustion confirmations of course..."

@PixelSniper -- could you briefly explain what you look for to confirm price exhaustion, a screenshot would be most helpful. Are you really trading against yourself, or is this reversal trading?
  • #114,580
  • Jan 5, 2021 3:52pm Jan 5, 2021 3:52pm
Quoting Tekkies
{quote} {image}
This is a 15min chart Tekkies. I think you and I have different definition of trend. What is the purpose of the chart you posted?

Quoting robots4me
whereas back in 1999 only geniuses could trade and lose money...
I saw what you did there
If you are good at something, never do it for free--Joker
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